Sleep Apnea Devices Market Analysis | 2031
The Sleep Apnea Devices Market size was estimated to be US$ 6280.09 million in 2023 and is expected to reach US$ 12,987.44 million by 2031; it is estimated to record a CAGR of 7.7% in 2031. The increasing prevalence of respiratory diseases, sedentary lifestyle, increasing aging population (over 60 years), and growing prevalence of chronic disorders is likely to remain key Sleep Apnea Devices Market trends.
Sleep Apnea Devices Market Analysis
Increasing life expectancy across the globe is likely to increase the prevalence of sleep disorders. The study ‘Global Prevalence of Obstructive Sleep Apnea in the Elderly and Related Factors: A Systematic Review and Meta-Analysis Study,’ published in June 2023, aimed to combine data and statistics on the worldwide prevalence of OSA in the elderly population. It combined data from 39 studies with a total sample size of 33,353 people were included. The pooled prevalence of OSA in the elderly population was 35.9% (95% confidence interval: 28.7%-43.8%; I2 = 98.81%). The above-mentioned factor is anticipated to have a positive impact on the growth of the sleep apnea devices market.
Sleep Apnea Devices Market Overview
The growth of the sleep apnea devices market is attributed to some key driving factors such as the increasing prevalence of respiratory diseases, sedentary lifestyle, increasing aging population (over 60 years), and rising prevalence of chronic disorders. However, leaky masks and trouble in falling asleep are major factors hindering the market growth. Global sleep apnea devices market is segmented by region into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In North America, the US is the largest market for sleep apnea devices. The growth of the region is attributed to the presence of key market players and rising prevalence of the geriatric population. In addition, continuous product developments are further expected to stimulate the growth of the sleep apnea devices market in North America.
The Asia Pacific region is expected to account for the fastest growth in the sleep apnea devices market. The sleep apnea devices market in the Asia Pacific is likely to witness rapid growth owing to a large population, rising medical tourism, and availability of cost-effective sleep apnea devices. Such a factor is expected to aid the growth of the sleep apnea devices market during the forecast period.
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Sleep Apnea Devices Market: Strategic Insights
Market Size Value in US$ 4,033.0 Million in 2016 Market Size Value by US$ 8,305.3 Million by 2025 Growth rate CAGR of 7.9% from 2017 to 2025 Forecast Period 2016-2025 Base Year 2017
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Sleep Apnea Devices Market: Strategic Insights
| Market Size Value in | US$ 4,033.0 Million in 2016 |
| Market Size Value by | US$ 8,305.3 Million by 2025 |
| Growth rate | CAGR of 7.9% from 2017 to 2025 |
| Forecast Period | 2016-2025 |
| Base Year | 2017 |
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Sleep Apnea Devices Market Drivers and Opportunities
Rising Prevalence of Cardiovascular Diseases to Favor Market
Cardiovascular disease refers to the following 4 entities i.e., coronary artery disease (CAD) which is also referred to as coronary heart disease (CHD), cerebrovascular disease, peripheral artery disease (PAD), and aortic atherosclerosis. According to the National Institute of Health (NIH), an estimated 16.3 million Americans aged 20 and older have CHD, a prevalence of 7 percent. The prevalence for men is 8.3 percent and for women is 6.1 percent. Continuous PAP (CPAP) is the common treatment for patients with moderate to severe OSA (AHI ≥ 15 events/h) in the absence of symptoms, but it is also recommended for the treatment of mild OSA patients (AHI 5-15 events/h) in the presence of EDS or other comorbidities such as obesity, hypertension, and cardiac arrest. This need is likely to drive the sleep apnea devices market during the forecast period.
Technological developments – An Opportunity in Sleep Apnea Devices Market
Obstructive sleep apnea (OSA) is a normal and very common disorder categorized by the upper airway's repetitive, complete, or partial closure. In contrast, sleep is helpful in the fragmentation of sleep and oxygen desaturation. The disorder causes significant morbidity, especially in terms of impairment of daytime functioning and the impact this has on quality of life. The recent indication from the controlled trials is proof that oral appliance therapy is very effective in controlling OSA in up to 50.0% of patients, including some patients with more severe forms of OSA. This is associated with a significant improvement in symptoms, including snoring and daytime sleepiness. This evidence is strong for short-term and emerging long-term treatment of OSA with oral appliances. Various companies have developed their products for treating sleep apnea and related accessories. For instance, SomnoDent devices developed by SomnoMed Limited have increased in the previous year, 2016, from 68% to 68.6%, which signifies that the products have achieved the signature line of products. Additionally, SomnoDent Alpha has developed and received FDA approval in September 2016. The Alpha is an instant fit device used in sleep clinics for offering the patient and delivering efficacy data of a continuous open airway therapy (COAT) treatment relating to a specific patient before a device is custom-made for the patient. In February 2024, ResMed launched its AirCurve 11 series which are the bilevel devices that use two levels of support, inspiratory positive airway pressure (IPAP) and expiratory positive airway pressure (EPAP). The AirCurve 11 series is combined with digital tech to help treat sleep apnea. Such technological advancements are estimated to generate attractive growth opportunity for the sleep apnea devices market.
Sleep Apnea Devices Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Sleep Apnea Devices Market analysis are diagnostic devices and end user.
- Based on diagnostic devices, the sleep apnea diagnostic devices market is segmented into polysomnography devices, respiratory polygraphs, actigraphy systems, and oximeters. The market for sleep apnea is majorly driven by polysomnography devices, as these are more advanced and specialized devices than others.
- The global sleep apnea market, based on the end-user, was segmented into home healthcare, and sleep laboratories & hospitals. In 2023, the home healthcare segment held the largest share of the market by end user. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to the advantages of the home healthcare segments. Home healthcare services are similar to skilled nursing facilities and hospitals available to treat patients at home. These facilities are used to treat injuries and diseases with more convenience and less cost. This service helps patients treat their sicknesses and injuries and helps them be self-sufficient to regain their independence. The patients feel more comfortable and relaxed in their own houses and respond well to the treatment.
Sleep Apnea Devices Market Share Analysis by Geography
The geographic scope of the Sleep Apnea Devices Market report is mainly divided into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South America/South & Central America.
In terms of revenue, North America dominated the sleep apnea devices market share. The North America sleep apnea devices market has been segmented into the US, Canada, and Mexico. The US holds the largest share of the North American sleep apnea devices market. Increasing prevalence of sleep apnea disorders among the American population is one of the key factors increasing the demand for sleep apnea devices, thus driving the growth of North America market. Further, high prevalence of sleep apnea and rising awareness about sleep disorders and its risk factors in the US is likely to drive the US sleep apnea devices market. As per the Centers for Disease Control and Prevention (CDC), around one third of the US Population gets less than required amount of sleep. Additionally, as per the American Sleep Apnea Association, around 22 million Americans suffer from sleep apnea. Thus, the growing prevalence of sleep apnea will likely contribute to the growth of the US sleep apnea devices market size.
Sleep Apnea Devices Market Report Scope
Sleep Apnea Devices Market News and Recent Developments
The Sleep Apnea Devices Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Sleep Apnea Devices and strategies:
- Evora Full – a compact full-face mask for sleep apnea has a floating seal and stability wings that work together to create the next generation of Dynamic Support Technology. The compact seal floats under the nose to provide patients with a clear line of sight, while stability wings keep the seal stable. (Source: Fisher & Paykel Healthcare, Corporate News, 2022)
Sleep Apnea Devices Market Report Coverage and Deliverables
The “Sleep Apnea Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Diagnostic Devices, Therapeutic Devices, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
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- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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